Maxim Resources given authorisation to explore Moroccan block

Created: Friday, 25 July 2014 04:48

Maxim Resources has been granted the Reconnaissance Concession Authorization for the Hassi Berkane Block in Morocco

According to the Canada-based firm, Maxim Resources and the National Office of Hydrocarbons and Mines (ONHYM) had applied to Moroccan Ministry of Energy, Mines, Water and Environment of Morocco for the authorisation in order to conduct the research needed to meet the requirements of the Reconnaissance Contract in June this year.

The Reconnaissance Concession Authorization is required in order to conduct exploration and review works. The work includes geological, geochemical and geophysical surveys and geotechnical review of already existing data. The project is expected to be completed within four months at which point Maxim Resources will assess the results and plan its next steps with ONHYM.

The authorisation granted is for a one-year period and is exclusive and may be extended for several periods of one year, if needed. Incase of a successful review of the data, Maxim Resources and ONHYM will have the right to obtain an Exploration Permit from the Ministry for all (or some) of the Hassi Berkane Concession.

Art Brown, CEO and President of Maxim Resources, said, “Maxim Resources is pleased to now be able to move forward with Stage 1 of our reconnaissance works on Hassi Berkane. While trying to complete this works at the earliest, we are continuing to review further projects and opportunities as well.”